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ARDEN HILLS CITY COUNCIL—March 14, 2011 S 8.A. Adopt Resolution 2011-012: Declaring Cost to be Assessed and Ordering Preparation of - Proposed Assessments for the 2011 Pavement Management Program and Adopt Resolution2011-013: Providing for Assessment Hearing for the 2011 Pavement Management Program (continued) Civil Engineer Giga stated a grit chamber is a large manhole that has mechanisms inside that receive the storm water and allows more detention time. This results in more of the sediment being removed before the water goes into the City sewer system. At this time Staff is recommending the grit chamber be included and this is part of the contract amount listed in the memo. The information regarding the grit chambers is being submitted to Rice Creek Watershed District for a potential sharing of the cost. The City will find out in mid-May the details on the potential cost sharing. Councilmember Holden stated past practice in the City is for neighborhoods to pay for parks. She would support the number of units being assessed as 134 units. Also based on past City practice she would recommend a term of 7 years and an interest of 4.4%. Councilmember Holmes stated she would support the lower interest rate because it is a fair amount for the residents and the City. She stated she would also support a term of 7 years and 134 units because this is how the City has done past assessments. Councilmember Werner clarified this amount would be assessed on property taxes if it was not paid within the 30 day limit. Mayor Grant stated he would support past practice in assessments and this would result in having 134 units assessed at 4.4%. He would not recommend a term beyond 7 years. Councilmember Tamble stated he would support the 134 units but he would like to see the term extended to 9 years. - Mayor Grant stated the City is at risk if interest rates go up and this is why he would not recommend a term of more than 7 years. If the term were increased he would recommend raising the interest rate as well. Councilmember Werner stated he would support an interest rate of 4.4% and a term of 7 years. MOTION: May Grant moved and Councilmember Holmes seconded a motion to Adopt Resolution 2011-012: Declaring cost to be assessed and ordering preparation of proposed assessments for the 2011 Pavement Management Program based on 134 units, a term of 7 years, and an interest rate of 4.4%. The motion carried unanimously (5-0). MOTION: Councilmember Holden moved and Councilmember Holmes seconded a motion to adopt Resolution 2011-013: Providing for Assessment Hearing for the 2011 Pavement Management Program on April 25 2011. The motion carried unanimously (5-0). Councilmember Holden asked when the project would start.